Soyinka Leave a comment and share Chuks Udo Okonta Sovereign Trust Insurance Plc (the Company) said it recorded a Profit After Tax (PAT) of has N687 million in 2020, which it considered a commendable performance when compared with the company’s performance in 2019. A statement by its Deputy General Manager/Head, […]
Insurance
Insurers generate N418.76bn from motor policy in 10 years
Leave a comment and share Chuks Udo Okonta Insurance operators generated N418.76 billion from motor business underwriting in 10 years, Inspenonline reports. According to data obtained from the Nigerian Insurers Association (NIA) the operators generated the fund between 2010 and 2019. The NIA stated that the operators posted N42.04 billion […]
Big insurers maintain slim management expenses as trouble firms overshoot generated premium
Leave a comment and share Chuks Udo Okonta At a time insurance firms with huge gross premium income are blocking holes to maintain a slim management expenses, some troubled firms seem to be overshooting their gross premium written. Data obtained from the Nigerian Insurers Association (NIA) 2019 Digest, which chronicled […]
AM Best awards negative outlook on UK Non-Life Insurance segment
Leave a comment and share Chuks Udo Okonta AM Best is maintaining its Negative outlook on the United Kingdom non-life insurance segment, Inspenonline reports. The agency noted that economic uncertainty remains a key headwind for UK non-life insurers, adding that COVID-19-related lockdown measures coincided with the country’s preparation to leave […]
Bill: NAICOM to pay claimants from statutory deposits of erring insurers
Leave a comment and share Chuks Udo Okonta The Insurance Industry Consolidated Bill provides that where any claim remains unpaid, the insured may request the National Insurance Commission (NAICOM) to effect the payment from the statutory deposit of the insurer and the Commission shall have power to effect such payment. […]
Linkage Assurance gross written premium up 28% to N8.3bn
Braie • To pay shareholders dividend, bonus Leave a comment and share Chuks Udo Okonta Linkage Assurance Plc has released its 2020 audited financial result, posting a gross premium written of N8.3 billion, an increase of 28 per cent YoY from N6.5 billion in 2019, while total assets also rose […]
AIICO posts ₦62bn gross written premium in 2020
Fajemirokun •Total assets hit ₦243.1bn Leave a comment and share Chuks Udo Okonta AIICO Insurance Plc (“AIICO”, or “the Group”) announced its audited results for the year ended 31 December 2020, which highlights showed that the gross written premium grew by 23.6 per cent year-on-year to ₦62.0 billion in FY […]
NAICOM brews new reforms, initiatives
Leave a comment and share Chuks Udo Okonta The Commissioner for Insurance, Sunday Thomas, has said the National Insurance Commission (NAICOM) is open to new ideas and shall continue to introduce new reforms and initiatives in line with international best practices that will strengthen insurance institutions. Thomas, who said this […]
Linkage Assurance courts Kano brokers for stronger partnership
Braie Leave a comment and share Chuks Udo Okonta Linkage Assurance Plc, poised to strengthen its market presence in the Northern part of the country, will this week be engaging its broker partners in Kano and environs for better product distribution and increased consumer service. The brokers under the umbrella […]
Royal Exchange General to drive retail by digital transformation
Agili Leave a comment and share Chuks Udo Okonta The Managing Director of Royal Exchange General Insurance Company (REGIC), Benjamin Agili has stated that his company will focus its digital transformation strategies and efforts on the retail side of the general insurance market in Nigeria. Speaking during an interactive session […]
